Yes, the Cobra CIR is a Penbex device and indeed it is not capable of playing AAC streams.
Before Penbex went bankrupt I tried to get that fixed but they said the hardware is not powerful enough to do the AAC decoding in software in real-time.
I was willing to work on an aac module with some heavy optimizations to at least try it out.
I am not sure if they simply did not want to spend more time on the devices as they must have seen the bankruptcy coming their way or that they already had tried to get it running.
I am sure we could create something simple with a Pi, small display and the listenlive code.. but so far no one has showed an interest.